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Nigeria Recorded Biggest Oil Disruption In Months, Loses 7.5m Barrels In January

Crude oil
NNPC exceeds pipeline maintenance cost by N324m Nigeria has recorded its highest monthly crude oil loss in a long time as a result of disruptions due to maintenance, community issuesRead More

Governors Doubt NNPC’s N287bn Profit, Call For More Transparency

Nigeria Governors Forum (NGF)
Bemoan oil firm’s inability to contribute to Federation Account in January The Nigeria Governors Forum (NGF) yesterday questioned the veracity of the profit recently declared by the Nigerian National PetroleumRead More

Security Agencies Move Against Importers Of Off-spec Petrol

Nigerian National Petroleum Corporation (NNPC)
Begin interrogation of suspects Despite NNPC’s efforts, petrol queues persist in Abuja, Lagos Security agencies have begun the probe of companies and individuals allegedly involved in the importation of toxicRead More

Again, NNPC Apologises To Nigerians, Reveals Five Vessels Of Substandard Fuel Rejected

Nigerian National Petroleum Corporation (NNPC)
Assures petrol supply will be restored next week Group Managing Director and Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, Mr. Mele Kyari, yesterday apologised to Nigerians forRead More

Massive Oil Theft, High Pipeline Repairs Cost, Bleeding Nigeria’s Economy

Oil pipeline
At 200,000bpd, over $29bn lost to theft in six years Over N700bn expended on repairs, maintenance A combination of huge oil pipeline repairs cost and a high-level crude oil theftRead More

FG Rejects Two Cargoes Of Adulterated Petrol Imported From Belgium

Organisation of the Petroleum Exporting Countries (OPEC)
STI SYMPHONY makes U-turn off coast of Guinea OPEC’s production drops by 700,000bpd Following the circulation of adulterated petrol in Nigeria, which damaged vehicle engines last week, the federal governmentRead More

Confusion as 4 Oil Companies Named By NNPC As Liable For Imported Substandard Petrol Deny Accusation

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari
Four of the oil companies accused by the Group Managing Director of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, of importing substandard petrol have all in writing deniedRead More

Adulterated Fuel: Kyari Names MRS, Emadeb-consortium, Oando, Duke Oil As Culprits

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari
Explains why inspectors did not detect bad petrol before circulation National oil company requests emergency supply NMDPRA says nation has 10-day reserve deficit, announces arrival of 300m litres of fuelRead More

Tanker Drivers Accuse Ministry, Politicians Of Hijacking N621bn NNPC Road Funds

Petrol tanker
Be patient, stop the blackmail, works ministry cautions The Petroleum Tanker Drivers (PTD) yesterday alleged that the N621 billion for the rehabilitation of 21 critical road infrastructure in the countryRead More

NNPC Secures $5bn Funding From Afreximbank For Upstream Business, Others

Nigerian National Petroleum Corporation (NNPC)
Continental bank to underwrite $1bn as part of transaction The Nigerian National Petroleum Company Limited (NNPC) has secured a $5 billion corporate finance commitment from the African Export-Import Bank (Afreximbank)Read More